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Mike Barnes Mike Barnes is offline
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Default Valuation of a 'ransom strip'?

In uk.d-i-y, Lobster wrote:
My parents have recently been approached by their next-door neighbour
who wishes to buy a strip off the end of my parent's garden, presumably
with a view to gaining rear access to their property.

My parents just *might* be interested in doing this. One of several
questions raised, though, is how would you put a valuation on this bit
of land?


I'd start by asking the neighbour to make an offer. Your parents
shouldn't feel the least bit uncomfortable about asking roughly how much
the neighbour has in mind, and should immediately reject any pressure to
open the bidding themselves. They might be very pleasantly surprised or
totally disillusioned by the opening offer, which would make the process
easier one way or the other.

Although you asked only about price, make sure you check out that
"presumably", and think of the worst that could happen.

--
Mike Barnes